It has been a tough few days for investors in Vaycaychella Inc as the stock suffered from a selloff and the trend continued on Wednesday as the stock ended the day with a decline of 8%. In this context, it is also necessary to point out that over the course of the past week, the Vaycaychella (OTCMKTS:VAYK) stock has declined by as much as 33%.
On Wednesday, VAYK stock went down 8.33% to $0.0066 with more than 11.48 million shares, compared to its average volume of 11 million shares. The stock has moved within a range of $0.0053 – 0.0079 after opening trade at $0.0073.
VAYK Travel Industry Concept Begins To Take Shape As Potential Rapid Growth Reality
Yesterday, the company was in the news after the Chief Executive Officer of the company William ‘Bill’ Justice released a letter addressed to the shareholders. It may be a good idea for investors to take a look at some of the highlights from the letter.
He started the letter off by stating that at the end of this year, it will be close to two years since Vaycaychella moved into the travel industry. He recounted that back in January last year, the company had only been a short term rental property rental finance outfit but after a merger the fortunes of the company changed in a big way.
However, the coronavirus pandemic had a negative effect on the travel business and that affected Vaycaychella as well. He added that there is pend up demand for travel and that could work in the company’s favour.
VAYK stock is trading below the 20-Day and 50-Day Moving averages of $0.0102 and $0.0122 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 30. The stock is down 45% over the past month.